Eye-on-Retail Daily Tipsheet Archives

Former Wal-Mart CFO Holley to join Deloitte as adviser at Reuters. “Holley, who served as the CFO of Wal-Mart… from December 2010 to January 2016, will join Deloitte’s ‘U.S. CFO Program’ and advise staff, clients and senior leadership.”Read more

Why have upscale retailer Nordstrom and other apparel giants lost their luster? by James F. Peltz at LA Times via Chicago Tribune. “Then, all of a sudden,” that growth began stalling in a “very strong” way, Michael Koppel, Nordstrom’s chief financial officer, told an industry conference in June. “For something that happened that quickly, it just begs a lot of questions.”Read more

House Speaker Paul Ryan joins Walgreens at launch of drug take-back disposal program in WisconsinRead the release

Schnucks dealing with produce shortage by Sam Clancy at KSDK St.Louis. “High customer traffic, a warehouse change and a power outage have contributed to limited produce selection at area stores, a statement from the company said.”See the video / Read more

Amazon partnering with the United Kingdom to test its drone delivery service by Nat Levy at GeekWire. “Amazon will test flying drones beyond the operator’s line of sight in rural and suburban areas. The company also wants to evaluate sensors that help drones avoid obstacles and whether a single person can fly multiple automated drones at the same time.”Read more

Online dollar store Hollar is giving these old-school shops a makeover by Krystina Gustafson at CNBC. “Hollar’s Yeom is making the case that the company has figured out how to profitably bring the dollar store into the digital era. At the crux of its strategy are two tactics: playing into consumers’ love for a treasure hunt, and finding ways to ensure the orders they ship are additive to its bottom line. “A space this massive, an opportunity this big … we wondered, are we crazy?” Yeom said.”Read more

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Seattle: Amazon real estate chief outlines strategy: ‘I don’t want to own it all’ by Marc Stiles at Puget Sound Business Journal. “Amazon Director of Global Real Estate and Facilities Director John Schoettler outlined the company’s strategy last week, saying Amazon wants to both own and lease space. Currently, the company has a total of 8.5 million square feet in Seattle, owning half and leasing half.”Read more

Starbucks’ Schultz to step back, focus on high-end strategy by Janet I. Tu at Seattle Times. “Starting Sept. 1, his priorities will be on Starbucks’ higher-end businesses, including the Roasteries…the Reserve Stores…and Princi, the high-end bakery chain Starbucks just invested in. Schultz is also aiming to build a premium business unit within Starbucks, he said in a letter to employees Monday.”Read more

Ex-CEO of several retail banners named Director at Sears Canada “Heywood Wilansky, a retail executive with over 45 years of retail experience…including CEO of several retail banners including Value City, Bon Ton Stores Inc., DSW Inc., Filene’s Department Stores, Filene’s Basement, and Foley’s, has been appointed as a Director of the Company.Read the release

Australia: Woolworths to close 27 stores, cut 500 jobs at Sydney Morning Herald. “Another 34 underperforming stores were identified, which would also potentially close at the end of their leases. The 27 supermarkets flagged for closure would do so before the end of their lease, the retailer said.”Read more

Under Armour signals it is looking for shoppers that tend to frequent department stores such as J.C. Penney and Kohl’s by Brian Sozzi at The Street. “The authenticity we have gained with the athlete over the past 20 years has positioned Under Armour to widen our access through categories, channels and geographies,” said (CEO Kevin) Plank in a statement on the company’s second-quarter earnings release.”Read more

Redbox and Coinstar maker Outerwall agrees to $1.6B buyout by John Cook at GeekWire. “Outerwall has fallen on tough times in recent years…Redbox president Mark Horak stepped down last December, and the company shut down Redbox kiosks in Canada and removed several locations in the U.S.”Read more

Amazon Prime launches in India, initially without Prime Video service by Jon Russell at TechCrunch. “The service costs 499 INR (around $7.50) per year, although that “introductory” price will later rise to 999 INR ($14.80), for which customers get free one- and two-day delivery for products to over 100 cities.”Read more

Tipsheet Extra Stories

Michelle Obama stuns in a blue Christian Siriano dress at DNC

NASCAR legend Richard Petty surprises military family with free year of groceries at Kroger

Canada: Food prices drop as retailers scramble to keep up with Wal-Mart

Tampa: One year later, Bass Pro has become center of burgeoning development